History's Lessons for Our Post-Virus Future

Prognosis: Misconception

Bloomberg

Health & Fitness, Science

4.1 • 838 Ratings

🗓️ 22 June 2020

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

As soon as the Coronavirus became a pandemic, people began making parallels to the Spanish Flu outbreak of 1918, and reaching even further back to the black death of the middle ages. It makes sense--past pandemics may be our only reference point for whole populations being stricken with illness. But they can also tell us a lot about how economies recover after outbreaks. From the Odd Lots podcast, Tracy Alloway and Joe Weisenthal talk to Jamie Catherwood, an expert in finance history, about how Covid-19 is different -- and similar -- to decades-, and even centuries-old diseases.

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Transcript

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0:00.0	What could you do if your data was working for you and not against you? With Bloomberg delivering
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0:14.1	higher level analysis, and financial data experts committed to helping you maximize your every move.
0:24.5	Our data is made for more, so you can show the world what you're made of. Visit Bloomberg.com slash enterprise data to learn more.
0:34.5	Welcome to Prognosis. I'm Laura Carlson. It's day 103 since coronavirus was declared a global pandemic.
0:43.3	Our main story? People who warn we shouldn't become complacent often cite a familiar factoid.
0:50.3	The second wave of the Spanish flu pandemic of 1918 was worse than the first.
0:57.0	But it turns out the Spanish flu, and even the Black Death of the Middle Ages, can teach us some lessons about our economy too.
1:05.0	But first, here's what happened in virus news today.
1:23.1	The United Kingdom reported fewer than 1,000 new cases for the first time since it went into lockdown in late March.
1:31.1	The government said there were 15 deaths related to coronavirus, the lowest since March 15th.
1:37.0	However, in the U.S., cases continue to spike in a number of states.
1:45.6	One of those states is Florida, where new infections rose again on Monday, and deaths increased as well.
1:54.8	On a rolling seven-day basis, Florida's new cases reached nearly 23,000, their highest level ever.
2:04.3	China suspended poultry imports from a Tyson Foods plant, where hundreds of employees tested positive for COVID-19.
2:14.8	Chinese officials announced Sunday that customs will seize all products from Tyson's Springdale, Arkansas plant that arrive at the country's ports.
2:19.1	The move is a potential new threat to meet plants across the world that have seen disruptions because of the virus. In the U.S., hundreds of meatpacking plant
2:25.5	workers have become ill, and dozens have died. There's also been a recent uptick in infections
2:32.0	at facilities in Brazil and Germany. Finally, news
2:37.7	about two new drugs being developed to treat COVID-19. Indian company Glenmark Pharmaceutical was approved
2:44.9	to manufacture and sell a coronavirus treatment called Fabiflu or Fyrovir, for mild to moderate virus patients.
2:53.9	The news sent the company stock up as much as 40%.
	...

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